Zacks: Brokerages Anticipate Motorcar Parts of America, Inc. (MPAA) Will Post Quarterly Sales of $123.50 Million

Equities analysts expect Motorcar Parts of America, Inc. (NASDAQ:MPAA) to post $123.50 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Motorcar Parts of America’s earnings, with the lowest sales estimate coming in at $122.60 million and the highest estimate coming in at $124.40 million. Motorcar Parts of America posted sales of $114.41 million in the same quarter last year, which suggests a positive year over year growth rate of 7.9%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, June 14th.

On average, analysts expect that Motorcar Parts of America will report full year sales of $433.30 million for the current financial year, with estimates ranging from $429.50 million to $437.10 million. For the next fiscal year, analysts expect that the firm will report sales of $470.75 million per share, with estimates ranging from $468.70 million to $472.80 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Motorcar Parts of America.

Motorcar Parts of America (NASDAQ:MPAA) last issued its earnings results on Thursday, June 14th. The auto parts company reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.12). The company had revenue of $121.10 million for the quarter, compared to analysts’ expectations of $123.86 million. Motorcar Parts of America had a return on equity of 13.00% and a net margin of 4.02%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share.



A number of brokerages have recently commented on MPAA. BidaskClub lowered shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Friday, June 8th. ValuEngine lowered shares of Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 17th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $34.00.

Shares of Motorcar Parts of America traded down $0.64, reaching $20.02, during trading on Monday, Marketbeat reports. 1,099,246 shares of the company were exchanged, compared to its average volume of 192,082. The firm has a market cap of $420.58 million, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21. Motorcar Parts of America has a 12-month low of $18.53 and a 12-month high of $30.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.18 and a current ratio of 0.74.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in Motorcar Parts of America by 2.5% in the first quarter. Principal Financial Group Inc. now owns 146,199 shares of the auto parts company’s stock valued at $3,133,000 after acquiring an additional 3,499 shares in the last quarter. Royal Bank of Canada boosted its stake in Motorcar Parts of America by 6.7% in the first quarter. Royal Bank of Canada now owns 1,026,189 shares of the auto parts company’s stock valued at $21,992,000 after acquiring an additional 64,607 shares in the last quarter. Foundry Partners LLC boosted its stake in Motorcar Parts of America by 17.9% in the first quarter. Foundry Partners LLC now owns 299,990 shares of the auto parts company’s stock valued at $6,429,000 after acquiring an additional 45,475 shares in the last quarter. Voce Capital Management LLC boosted its stake in Motorcar Parts of America by 93.9% in the first quarter. Voce Capital Management LLC now owns 186,764 shares of the auto parts company’s stock valued at $4,002,000 after acquiring an additional 90,421 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Motorcar Parts of America in the first quarter valued at approximately $473,000.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.

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Earnings History and Estimates for Motorcar Parts of America (NASDAQ:MPAA)

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